Xignite introduces Enterprise Microservices, revolutionising market data management
By Pavithra R
Xignite, leading the disruption of the market data industry with its’ API and data management solutions for FinTech and financial services firms has announced the launch of Enterprise Microservices, a suite of cloud-native market data management services designed to transform how firms store, distribute, manage and control the market and financial data in the cloud.
Microservices are architectural approach in which core functionality is handled by loosely coupled, independently deployable components that can work separately and together. Microservices stand in stark contrast with monolithic platforms that require dedicated on-premise servers which are expensive to manage, often under-utilised, can’t scale on-demand and require frequent updates and upgrades for even minor changes.
The Xignite Enterprise Microservices run on the company’s cloud-based architecture that currently supports more than 250 different data sources and 12B API calls per day for over 750 FinTech and financial services clients. Financial institutions can now leverage Xignite’s cloud technology to move their own financial and market data to the cloud.
The suite includes seven cloud-native microservices targeted to buy-side, sell-side and fintech firms, as well as exchanges including: Xignite Data Lake Microservice, Xignite Optimization Microservice, Xignite Entitlements and Usage Microservice, Xignite Reference Microservice, Xignite Historical Microservice, Xignite Real-Time Microservice and Xignite Fundamentals Microservice.
“We are incredibly excited to launch Xignite Enterprise Microservices, which we believe will truly revolutionize market data management. The culmination of over 10 years of nonstop innovation, we have taken the cloud-native architecture that has powered some of world’s most prominent fintechs and scaled it to meet the unique requirements of institutional players that consume huge amounts of data but often have no way of integrating and optimizing it in an efficient and cost-effective way. Firms are no longer required to hitch their wagon to a single provider – instead, they can use a combination of our microservices to secure all the benefits they would get from a rigid legacy offering,” said Stephane Dubois, Founder and CEO of Xignite.
Recently, Numerix launched Oneview for the LIBOR Transition.
The new Enterprise Microservices are vendor-agnostic and can bring transformative results to any dataset. A firm may license or collect from vendors such as Bloomberg, ICE Data Services, SIX Financial, Vela Trading, QuantHouse, FactSet, and many others, as well as in-house proprietary data. NICE Actimize, the leading global provider of financial crime, risk and compliance solutions, is the first user of the new Real-time Microservice solution.
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